ARK Investment Management LLC lessened its stake in shares of Wix.com Ltd. (NASDAQ:WIX – Free Report) by 18.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,331 shares of the information services provider’s stock after selling 4,965 shares during the quarter. ARK Investment Management LLC’s holdings in Wix.com were worth $1,747,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp boosted its stake in shares of Wix.com by 8.5% in the first quarter. Bank of New York Mellon Corp now owns 303,165 shares of the information services provider’s stock valued at $31,669,000 after purchasing an additional 23,843 shares during the period. US Bancorp DE boosted its position in Wix.com by 39.7% in the 1st quarter. US Bancorp DE now owns 2,782 shares of the information services provider’s stock valued at $290,000 after buying an additional 791 shares during the last quarter. Citigroup Inc. grew its stake in shares of Wix.com by 58.1% during the first quarter. Citigroup Inc. now owns 47,694 shares of the information services provider’s stock valued at $4,982,000 after acquiring an additional 17,530 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Wix.com during the first quarter worth about $346,000. Finally, Ergoteles LLC lifted its stake in shares of Wix.com by 388.6% in the first quarter. Ergoteles LLC now owns 44,121 shares of the information services provider’s stock worth $4,609,000 after acquiring an additional 35,091 shares in the last quarter. Hedge funds and other institutional investors own 83.91% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on WIX. Barclays raised their price objective on Wix.com from $90.00 to $100.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. 58.com reaffirmed an “initiates” rating on shares of Wix.com in a report on Wednesday, June 28th. Needham & Company LLC raised their price objective on shares of Wix.com from $120.00 to $130.00 in a report on Friday, August 4th. JMP Securities boosted their target price on shares of Wix.com from $114.00 to $130.00 and gave the stock a “market outperform” rating in a research report on Friday, September 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $120.00 price target on shares of Wix.com in a research report on Friday, August 11th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.19.
Wix.com Stock Up 1.8 %
WIX stock opened at $95.32 on Friday. The stock has a market cap of $5.41 billion, a PE ratio of -86.65 and a beta of 1.24. The firm’s 50-day simple moving average is $90.08 and its 200 day simple moving average is $86.47. Wix.com Ltd. has a fifty-two week low of $66.18 and a fifty-two week high of $102.82.
Wix.com (NASDAQ:WIX – Get Free Report) last announced its quarterly earnings results on Thursday, August 3rd. The information services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $0.54 by $0.72. The firm had revenue of $390.00 million during the quarter, compared to analyst estimates of $384.55 million. During the same quarter in the previous year, the business posted ($0.94) EPS. Wix.com’s revenue for the quarter was up 13.0% compared to the same quarter last year. Equities analysts forecast that Wix.com Ltd. will post -0.27 EPS for the current fiscal year.
Wix.com Ltd., together with its subsidiaries, develops and markets a cloud-based platform that enables to create a website or web application in North America, Europe, Latin America, Asia, and internationally. The company offers Wix Editor, a drag-and-drop visual development and website editing environment platform; Wix ADI that enables users to create a website for their specific needs.
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